SEDCO Capital REIT Fund entered into a Sale and Purchase Agreement for the 'Atelier Lavie' property in Jeddah, valued at SAR 515 million, aiming to enhance its real estate portfolio and financial performance.

Information on the Target

The target of the recent transaction is the 'Atelier Lavie' property, situated in Jeddah, Saudi Arabia. This property has been selected for its potential to generate substantial rental income and contribute to the overall growth of the SEDCO Capital REIT Fund. With its strategic location and design, Atelier Lavie is poised to attract a diverse range of tenants.

SEDCO Capital REIT Fund entered into the Sale and Purchase Agreement with a total transaction value of SAR 515,000,000, excluding applicable real estate transaction tax and additional selling fees. The agreement includes a non-refundable deposit of SAR 5,000,000, with the remaining balance due within 60 business days, subject to extension by mutual consent.

Industry Overview in Saudi Arabia

The real estate sector in Saudi Arabia has shown significant resilience despite global economic challenges. Driven by the government's Vision 2030 initiative